ActiveBC Ltd. is a CCPC that operates solely in BC. For the 2020 taxation year it had Net Income of $450,000 (consisting of $400,000 in Canadian Active business income and $50,000 in Aggregate Investment Income) and Taxable Income of $300,000. ActiveBC is associated with four other CCPCs and the companies have agreed to an allocation of 20% of the Annual Business Limit each. Calculate the Part I tax payable 

Answer rating: 100% (QA)

Under part Iof the Act section 2 Inlome tax is payble each year on tthe eve... View the full answer